Philadelphia-based law firm Cozen O’Connor, one of the top-ranked firms on the Am Law 100 list, is making a major move to strengthen its Midwest presence through a merger with Minneapolis firm Moss & Barnett. The deal, officially announced this week, marks another milestone in Cozen O’Connor’s ongoing national expansion strategy and underscores the firm’s commitment to building a full-service legal platform across key U.S. markets.

The merger has been unanimously approved by both firms’ partners and is scheduled to take effect January 1, 2026. Once completed, Cozen O’Connor will surpass 1,000 attorneys across 33 offices nationwide, solidifying its position among the fastest-growing BigLaw firms in the country.

A Strategic Move into the Heart of the Midwest

The addition of Moss & Barnett represents a calculated expansion into the Midwest for Cozen O’Connor. While the firm already maintains a footprint in Chicago and Minneapolis, this merger significantly increases its scale and depth of practice in the region. Moss & Barnett’s more than 50 attorneys will join Cozen’s ranks, expanding the firm’s reach into key practice areas including real estate, energy and utilities, trusts and estates, business law, and litigation.

Founded in 1892, Moss & Barnett has long been a respected name in the Twin Cities legal community, known for its strong client relationships and regional expertise. Its local reputation, combined with Cozen’s national resources, creates a synergy both firms say will offer clients broader service capabilities and geographic coverage.

Boosting Cozen’s Competitive Edge

After the merger, Cozen O’Connor’s Minneapolis office will become its fourth-largest location, following Philadelphia, New York, and Washington, D.C. The expansion will also elevate Cozen’s real estate group to over 100 attorneys, bolstering the firm’s capacity to handle complex transactional and development projects nationwide.

The firm’s Midwest attorney count will grow to more than 120, enhancing its presence not just in Minnesota but also in Illinois, Wisconsin, and neighboring states—regions increasingly important to clients in manufacturing, finance, health care, and energy.

Legal analysts view the move as a continuation of a broader industry trend where large firms are seeking to grow through targeted mergers rather than simple lateral hiring. The merger is particularly notable given the Twin Cities’ economic landscape, home to a high concentration of Fortune 500 companies, including Target, UnitedHealth Group, General Mills, and 3M.

Cultural Compatibility and Client Synergies

For Moss & Barnett, the merger provides an opportunity to join a firm with a national platform and diverse practice offerings. Cozen’s broad reach and resources—ranging from cutting-edge legal technology to specialized industry groups—are expected to enhance the Minnesota firm’s ability to serve existing clients while attracting new business.

Brian Grogan, President and Shareholder of Moss & Barnett, expressed confidence in the merger’s potential:

Both firms emphasized that their shared values—particularly a focus on client service, collaboration, and innovation—made the merger a natural fit. The leadership teams are already planning integration initiatives, including combining practice groups and aligning technology systems before the January 2026 effective date.

Strengthening National Coverage and Practice Depth

Cozen O’Connor has been on a steady growth trajectory over the past decade. The firm has expanded strategically into major legal markets including Miami, Seattle, Toronto, and London. The addition of Moss & Barnett aligns with this pattern of carefully selected mergers aimed at deepening practice areas rather than purely expanding geography.

In particular, the firm’s Midwest expansion will enhance its strength in energy and public utilities law, a Moss & Barnett specialty that complements Cozen’s already robust regulatory and infrastructure practices. The merger will also boost Cozen’s trusts and estates and real estate finance teams—areas that have seen growing client demand in recent years.

According to Cozen O’Connor’s leadership, clients can expect “business as usual” during the transition, with both firms collaborating closely to ensure continuity of service and smooth integration.

Initially, Cozen’s Minneapolis attorneys will move into Moss & Barnett’s existing office at 150 South Fifth Street, located in the heart of downtown Minneapolis. The combined firm plans to relocate into a larger space as it expands further in the Twin Cities area.

The Broader Trend in BigLaw Mergers

The Cozen-Moss & Barnett merger reflects a broader pattern of consolidation across the legal industry. As competition intensifies and client demands grow increasingly complex, mid-sized and large firms are turning to mergers as a way to achieve economies of scale, diversify revenue streams, and expand into high-growth regional markets.

For Cozen O’Connor, the move strengthens its position as a full-service national firm capable of serving clients coast to coast. For Moss & Barnett, it offers access to greater resources and visibility on a national stage—all while preserving its long-standing reputation in the Minneapolis legal community.

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The post Philadelphia-Based BigLaw Firm Expands Into Midwest with Major Merger first appeared on JDJournal Blog.

In a legal industry increasingly defined by multi-tiered partnership models, Ropes & Gray LLP stands out as a rare exception. While many elite law firms have adopted the two-tier structure—distinguishing between equity and non-equity partners—Ropes & Gray has chosen to preserve its traditional one-tier partnership system, in which every partner holds an equity stake.

This decision underscores the firm’s commitment to equality among its partners and highlights a fundamental debate about what it truly means to be a “partner” in modern Big Law.

A Different Kind of Partnership

According to a recent report, Ropes & Gray’s approach bucks the prevailing industry trend. In today’s market, most Am Law 100 firms have created non-equity partner tracks to recognize senior lawyers’ contributions without extending full ownership rights. These positions often serve as stepping stones between senior counsel roles and full partnership, offering higher prestige and pay without the financial risk or buy-in that comes with equity status.

By contrast, Ropes & Gray’s one-tier structure treats all partners as full equity stakeholders—sharing in both the profits and liabilities of the firm. Every partner participates in firm governance, strategy, and performance outcomes, reinforcing a collective sense of responsibility.

Legal management consultant Janet Stanton, explained that this makes Ropes & Gray an “outlier” in a profession where flexibility and layered compensation systems have become the norm. “The one-tier model,” she said, “requires a high level of trust and cultural cohesion that few firms can sustain in today’s competitive environment.”

Why the Two-Tier Model Took Over

The two-tier system emerged in the 1990s as firms grew larger and more corporate in structure. With increased client demands and complex global operations, many firms found it necessary to create a middle tier between senior associates and full equity partners.

The non-equity tier allows firms to:

• Recognize achievement without immediately granting ownership.
• Retain top talent by offering status and better pay while limiting profit-sharing dilution.
• Adjust to market pressures with flexible compensation systems.
• Provide an exit path for senior lawyers who no longer want the financial exposure of equity partnership.

For law firms, this model offers practical benefits. It helps manage profit margins, maintain financial stability, and attract lawyers who value leadership recognition without the burden of capital contributions or management duties.

However, critics argue that the model creates a hierarchy within the partnership ranks, diluting the meaning of the title “partner.” In some firms, non-equity partners have limited voting rights or influence, and their compensation may depend heavily on billable hours rather than firm profits.

Ropes & Gray’s Philosophy: Shared Ownership, Shared Accountability

Ropes & Gray’s leadership believes that maintaining a single partnership tier promotes a stronger, more unified culture. By ensuring that all partners have “skin in the game,” the firm fosters collective accountability and mutual investment in long-term success.

The firm’s model is also attractive to potential recruits seeking a more transparent and meritocratic environment. In Ropes & Gray’s system, making partner means full equity participation—not a provisional or half-measure title. That clarity can be a powerful incentive for ambitious lawyers seeking genuine ownership.

Why Other Firms Won’t Likely Follow

Despite Ropes & Gray’s success, experts caution that few firms are likely to emulate its structure. The two-tier model remains entrenched across the Am Law 200, largely due to its financial flexibility. It allows firms to reward more partners without sacrificing profits per equity partner—a key metric in the competitive lateral-recruiting market.

Additionally, as firms continue to expand globally and diversify their practices, the one-tier model becomes harder to sustain. Differences in markets, billing rates, and client bases make a uniform equity structure less practical.

Stanton emphasized that Ropes & Gray’s model “reflects a specific culture, not a universal solution.” Most large firms simply don’t have the cohesion or consistent profitability required to make full equity partnership viable for all senior attorneys.

Implications for Lawyers and the Industry

For attorneys navigating partnership tracks, Ropes & Gray’s approach is a reminder to look beyond titles and examine what partnership really means at their firm.

• At two-tier firms, non-equity partnership may still be an important milestone, but it’s often more akin to a senior management role than true ownership.
• At one-tier firms like Ropes & Gray, partnership represents both prestige and risk—a genuine investment in the firm’s future.

For law firms, the debate highlights a deeper question: should “partner” signify ownership or status? In a market driven by metrics like profits per partner and lateral movement, that distinction can profoundly affect culture, retention, and long-term strategy.

The Bottom Line

Ropes & Gray’s commitment to a one-tier partnership model sets it apart in an industry where non-equity structures have become the rule rather than the exception. Its approach underscores a belief in equality, shared purpose, and firmwide accountability—values that many firms espouse but few fully implement.

While this structure may not be replicable for every law firm, it offers an intriguing blueprint for those seeking to preserve the traditional meaning of partnership amid an era of corporate pragmatism.

Ropes & Gray may stand alone today, but its model invites an important conversation about the future of partnership in Big Law—and what truly defines a firm’s unity and strength.

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The post Ropes and Gray Represents the Exception — Not the Norm — in Non-Equity Partner Models first appeared on JDJournal Blog.

At a time when many of the world’s largest law firms are embracing multi-tiered partnership structures, Ropes & Gray LLP is charting its own course. The Boston-based powerhouse — consistently ranked among the top 10 U.S. law firms by revenue — has reaffirmed its commitment to maintaining an all-equity partnership, signaling confidence in a model that is becoming increasingly rare in today’s BigLaw landscape.

This bold reaffirmation comes as many elite firms transition to a two-tier system that includes both equity and nonequity partners, a move often designed to expand the partner ranks without diluting profits. Ropes & Gray, however, is doubling down on a more traditional model — one that it says fosters stronger alignment, transparency, and long-term firm stability.

A Strategic Reaffirmation of Core Values

According to firm leadership, the decision to retain a single-tier partnership is not merely about tradition — it reflects the firm’s values and its strategic approach to talent, culture, and profitability. By keeping all partners as equity stakeholders, Ropes & Gray underscores a belief that shared ownership translates to shared responsibility and deeper engagement in the firm’s success.

That alignment has long been one of Ropes & Gray’s defining features. It’s a model that reinforces the idea that partnership is not just a title, but a commitment to the collective — where each partner’s contribution directly affects firm performance and culture.

The Broader BigLaw Shift — and Why Ropes & Gray Stands Apart

Over the last decade, the Am Law 100 has seen a steady shift toward multi-tier systems. Major firms like Kirkland & Ellis, Sidley Austin, and Latham & Watkins have expanded their use of nonequity or “income” partners. The rationale is straightforward: these structures allow firms to retain high-performing attorneys who generate significant revenue but may not yet qualify for full equity status, while still preserving profits per equity partner (PEP).

Yet, this approach also has its critics. Some argue that nonequity tiers can create internal divisions between partners, undermine transparency, and blur the prestige traditionally associated with partnership. By rejecting this model, Ropes & Gray is making a clear statement about what partnership should mean — a distinction that may appeal to high-achieving associates seeking a more meritocratic and cohesive culture.

The firm’s decision follows reports earlier this year that it had considered introducing a nonequity track, only to later reverse course after internal discussions and market evaluation. The result: instead of adding a new tier, Ropes & Gray announced a record expansion of its equity partner ranks, further solidifying its commitment to its all-equity identity.

The Benefits of Staying All-Equity

The firm’s decision is grounded in several strategic advantages that come with a single-tier model:

1. Unified Interests and Accountability – With all partners owning equity, there’s no divide between “classes” of partners. Everyone shares equally in the firm’s success or shortfalls, which can strengthen collaboration and reduce internal competition.
2. Simplified Governance – Managing a single partnership structure allows for more straightforward decision-making and greater transparency across the board. There are fewer questions about compensation disparity or advancement criteria.
3. Attraction and Retention of Top Talent – Offering true equity can be a powerful draw for ambitious associates and laterals. It signals that partnership at Ropes & Gray is a meaningful achievement, not just a title.
4. Long-Term Stability – An all-equity structure can help maintain financial discipline, as every partner is directly invested in the firm’s performance and reputation.

In essence, the firm’s decision represents both a nod to tradition and a strategic play for the future. While Ropes & Gray acknowledges that the single-tier model may place more pressure on profitability and partner accountability, leadership appears confident that the benefits outweigh the risks.

Setting Itself Apart in the Modern Legal Market

In today’s ultra-competitive legal industry, where many firms are driven by short-term profitability metrics, Ropes & Gray’s move stands out as a reaffirmation of long-term vision. By resisting the trend toward nonequity expansion, the firm is signaling that it prioritizes cohesion, culture, and collective growth over the optics of size.

The firm’s stance may also serve as a wake-up call to the broader BigLaw community. As firms continue to grapple with market pressures, talent competition, and fluctuating client demands, Ropes & Gray’s model could become a benchmark for sustainability and integrity in firm governance.

The Future of Partnership in BigLaw

The future of the BigLaw partnership model remains in flux. Many firms are still experimenting with hybrid structures, while others are reevaluating what partnership even means in a world increasingly driven by metrics, technology, and alternative career paths.

Ropes & Gray’s decision demonstrates that a clear and cohesive structure — even one that bucks current trends — can still thrive at the highest levels of the profession. It reinforces that, in law as in business, alignment of interests often drives long-term success more effectively than flexibility that comes at the cost of unity.

Conclusion: Betting on Clarity, Unity, and Purpose

Ultimately, Ropes & Gray’s doubling down on its all-equity model is more than a business decision — it’s a declaration of identity. In a market dominated by change, the firm is betting on clarity, unity, and purpose as its competitive advantage.

While only time will tell whether this approach gives Ropes & Gray a sustainable edge, the firm’s decision has certainly reignited the debate about what partnership should stand for in the modern legal era. For now, Ropes & Gray remains a rare example of a top-tier law firm confident enough to stand by its founding principles — and bold enough to say no to the trends reshaping BigLaw.

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The post Ropes and Gray Doubles Down on All-Equity Partnership Model, Defying BigLaw Trend first appeared on JDJournal Blog.

In a landmark financial performance, Goodwin Procter LLP has announced a record-breaking $2.7 billion in annual revenue, underscoring its powerful momentum in mergers and acquisitions (M&A) and complex litigation. The impressive total marks a 12% increase from the previous year, setting a new benchmark for the Boston-founded Am Law 50 firm and signaling continued demand in key growth sectors.

A Strategic Shift Yields Historic Growth

According to Anthony McCusker, the firm’s chair and one of the architects behind its “Goodwin 2033” strategic vision, the year’s results stem from a focused effort to enhance collaboration between transactional and litigation teams. The firm has intentionally blurred the traditional divide between its dealmakers and litigators, ensuring cross-discipline agility and deeper client engagement across industries like life sciences, private equity, real estate, and technology.

The strategy appears to be paying off handsomely. Amid volatile market conditions, rising interest rates, and regulatory pressures, Goodwin’s deal and dispute teams continued to attract marquee clients and headline transactions—especially in private equity and capital markets, where the firm maintains one of the largest dedicated practices in the United States.

Litigation Arm Powers Ahead

Goodwin’s litigation practice emerged as a central growth engine, fueled by a surge in intellectual property, securities, and commercial disputes. The firm’s IP litigators were particularly active representing clients in life sciences and tech, two industries undergoing heightened patent-infringement battles and investor-driven lawsuits.

The litigation team’s success dovetails with Goodwin’s increasing work in shareholder activism and takeover defense, areas seeing a sharp uptick as investors pressure boards and management teams. To further strengthen that front, Goodwin recently brought on Leonard Wood, formerly of Sidley Austin, to spearhead its activism and takeover-defense group. His arrival reflects the firm’s intent to capitalize on a growing niche at the intersection of corporate governance and litigation.

M&A Excellence and Sector Diversification

While litigation brought substantial billings, M&A work remained Goodwin’s bedrock. The firm advised on several billion-dollar transactions in healthcare, real estate, fintech, and venture-capital spaces.

Private-equity and fund formation teams also delivered standout performances, advising both emerging managers and institutional investors on fund structures, exits, and secondary transactions. Goodwin’s long-standing relationships with venture-capital clients gave it a front-row seat to a market that—despite headwinds—continued to produce liquidity events and consolidation opportunities.

The firm’s healthcare and life-sciences practices were similarly buoyant, assisting biotech and pharmaceutical clients with mergers, licensing deals, and regulatory matters, particularly those tied to FDA and compliance concerns.

Leadership Transition and Vision for 2026

Looking ahead, Goodwin is preparing for a leadership transition set to take effect in October 2026. Joshua Klatzkin, a partner in the private-equity group, is slated to succeed Managing Partner Mark Bettencourt. Klatzkin, who has represented some of the firm’s largest fund clients, is expected to continue the firm’s trajectory of integrating transactional sophistication with cutting-edge litigation strategies.

McCusker emphasized that Goodwin’s success is not predicated on expansion through mergers—a popular trend among elite law firms—but rather through strategic discipline and client-focused innovation. “We’re not chasing mergers or headlines,” he said. “We’re building sustainable value through smarter structures and closer alignment with our clients’ long-term goals.”

Evolving Business Model and Alternative Fee Strategies

In a legal market increasingly demanding transparency and flexibility, Goodwin has embraced alternative fee arrangements (AFAs)—including fixed fees, success-based billing, and collaborations with litigation funders. These models have proven attractive to clients seeking predictability in high-stakes matters while allowing Goodwin to share in upside outcomes when favorable results are achieved.

The firm’s embrace of these progressive pricing structures has differentiated it from traditional competitors and contributed to steady client loyalty across industries.

Industry Context and Competitive Edge

Goodwin’s revenue growth roughly tracks broader trends in the Am Law 100, where leading firms reported an average increase of 11.4% in the first quarter of 2025, according to industry banking data. However, Goodwin’s consistent year-over-year trajectory and record revenue highlight its ability to maintain strong margins amid fierce competition for talent and slowing demand in certain transactional sectors.

By balancing its litigation boom with sustained M&A activity, the firm has created a resilient dual-engine model—one that positions it to weather market fluctuations more effectively than firms with narrower practice bases.

Future Outlook

As Goodwin continues to expand globally—particularly in New York, London, and Hong Kong—it is expected to double down on high-growth sectors like investment funds, fintech, healthcare, and ESG-driven corporate work. The firm’s 2033 strategic plan calls for ongoing investment in technology infrastructure, AI-enabled due-diligence tools, and enhanced client-service platforms.

With $2.7 billion in revenue, Goodwin has not only set a new internal record but also firmly secured its position among the most profitable global firms. The milestone reflects not just financial achievement, but a transformation in how modern firms structure, collaborate, and deliver legal services in a rapidly evolving marketplace.

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Kirkland & Ellis, the world’s highest-grossing law firm, has once again set a new milestone—promoting the largest partner class in its history. The Chicago-based powerhouse, known for its dominance in private equity, restructuring, and complex litigation, has elevated a record-breaking number of attorneys to the partnership ranks, surpassing last year’s historic class of 205.

While the firm has not yet released an official public statement confirming the exact number of new partners, sources close to the matter revealed that this year’s class exceeds the previous record. The promotions highlight Kirkland’s continued commitment to expanding its leadership pipeline and rewarding exceptional performance across its global offices.

A Tradition of Growth and Excellence

This announcement follows a consistent pattern of large-scale promotions in recent years. In 2023, the firm promoted 205 attorneys to partner; in 2022, 193 attorneys; and in 2021, 151 attorneys. The steady upward trajectory underscores Kirkland’s aggressive expansion strategy and its ability to sustain unparalleled revenue growth.

According to data, Kirkland’s revenue surged by approximately 82% since 2020, reaching nearly $9 billion in 2024. This impressive growth cements its position as the first law firm in history to cross that threshold, solidifying its reputation as both a financial and legal industry leader.

Breaking with Tradition: A Quiet Announcement

Unlike previous years, Kirkland & Ellis chose not to make a formal public announcement regarding its 2025 partner promotions. Historically, the firm would publish the list in early October, highlighting the attorneys being elevated across its U.S. and international offices. The decision to keep this year’s promotions under wraps suggests a subtle shift in internal communications—possibly reflecting the firm’s preference for discretion amid intense industry scrutiny.

Even without a formal press release, the news of Kirkland’s record-setting class has quickly spread throughout the legal community. For many, the scale of this promotion round reinforces Kirkland’s continued dominance in the global legal market.

The Path to Partnership at Kirkland

The firm’s partner promotion model is known for being rigorous and highly selective. Most new partners are elevated after around six years of practice, reflecting both professional maturity and business acumen. However, unlike equity partners, these newly promoted attorneys typically enter as non-equity partners—a distinction that aligns with Kirkland’s tiered partnership structure.

Junior partners often take on significant leadership roles in client relationships, business development, and case management, while continuing to demonstrate the entrepreneurial mindset that defines Kirkland’s culture. Over time, those who excel may be invited to join the equity partnership, where they share in the firm’s profits.

This two-tier system—while demanding—has allowed Kirkland to scale aggressively without diluting profitability. It also ensures a deep bench of rising leaders capable of sustaining the firm’s growth and client service excellence.

A Global Footprint and Unmatched Influence

Kirkland & Ellis operates from key financial centers including Chicago, New York, Washington, D.C., London, Hong Kong, and Los Angeles, with additional offices across Europe and Asia. The firm’s global reach gives its partners access to high-value work across industries such as private equity, mergers and acquisitions, restructuring, white-collar defense, and complex commercial litigation.

The firm’s robust transactional practice, particularly in private equity, has been instrumental in driving revenue growth. Major clients such as Bain Capital, Blackstone, and Vista Equity Partners have long relied on Kirkland’s lawyers for high-stakes dealmaking and dispute resolution. This steady stream of billion-dollar mandates has kept Kirkland at the top of the Am Law 100 rankings for several years running.

Cultural Impact and Competitive Position

Internally, Kirkland is known for its meritocratic, performance-driven culture—where success is rewarded and advancement is based on results rather than tenure. The firm’s management approach gives individual lawyers significant autonomy, allowing them to develop client relationships and business strategies independently. This entrepreneurial culture is a major reason Kirkland has attracted—and retained—top legal talent from across the world.

By continuing to expand its partnership ranks, the firm reinforces its commitment to career progression and leadership development within its own ranks. For many associates, the prospect of making partner at Kirkland remains one of the most prestigious achievements in the legal profession.

Industry Implications: Setting the Benchmark

Kirkland’s record promotions send a powerful signal to the broader legal market. As many large firms have slowed hiring and reduced partnership promotions due to economic uncertainty, Kirkland’s expansion stands out as a statement of confidence in its financial stability and growth trajectory.

Other major law firms—including Latham & Watkins, Skadden Arps, and Sidley Austin—are likely to take note of Kirkland’s strategy. The move may further intensify competition among top firms to attract and retain elite associates, especially those with strong client-development potential.

Moreover, the decision not to publicly announce the promotions may indicate a quiet evolution in how major firms handle internal growth—balancing public visibility with a focus on internal recognition and retention.

Conclusion

Kirkland & Ellis’s record-setting partner promotions underscore its unmatched momentum in the legal world. The firm’s ability to continue growing, even amid market headwinds, reflects its strategic foresight, disciplined leadership, and deep client relationships.

By investing in the next generation of leaders, Kirkland ensures that its legacy of excellence continues well into the future. The expanded partnership class is not only a testament to the firm’s success but also a signal to the entire industry that Kirkland & Ellis remains the benchmark for performance, innovation, and opportunity in BigLaw.

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The post Kirkland and Ellis Promotes Record Number of Lawyers to Partner in 2025 first appeared on JDJournal Blog.

In a move that is shaking up the BigLaw landscape, two major U.S. firms — one recognized for its elite corporate practice and the other for its powerhouse litigation group — have announced a merger that will create one of the largest full-service firms in the country. The newly formed firm, expected to launch officially on January 1, 2026, will bring together approximately 800 attorneys across 25 offices nationwide, combining transactional, regulatory, and litigation expertise under a single national brand.

This union reflects the continuing wave of consolidation across the legal industry, as firms seek to strengthen market position, expand practice capabilities, and enhance operational efficiency amid growing competition and client expectations.

A Merger of Equals — and Strengths

The two merging firms have long been respected in their respective domains. The corporate firm has built its reputation on high-stakes mergers and acquisitions, capital markets work, and advising Fortune 500 clients on regulatory and governance matters. Its counterpart — a litigation titan — has consistently earned national recognition for its complex commercial disputes, white-collar defense, and appellate work.

By joining forces, the firms aim to offer clients a seamless, end-to-end experience, providing everything from deal-making to dispute resolution. The combination also allows each side to deepen its bench strength, with corporate clients gaining access to elite trial lawyers and litigation clients benefiting from sophisticated transactional counsel.

Leaders from both firms have emphasized that the merger was driven by strategic alignment rather than necessity. “This is a merger of shared vision and mutual respect,” one managing partner said in a joint statement. “Together, we can deliver the scale and sophistication that today’s global clients demand.”

Strategic Drivers Behind the Deal

The motivations for the merger are clear — and strategic. As client matters grow more complex and multifaceted, corporate and litigation work are becoming increasingly intertwined. Cross-selling between practices represents a lucrative opportunity, allowing firms to retain clients across a wider spectrum of services.

Other key drivers include:

• Expanded geographic reach: The firms’ offices complement rather than overlap, giving the merged entity a national footprint from New York and Washington, D.C. to Los Angeles, Houston, and Chicago.
• Operational efficiency: Shared technology platforms, back-office services, and administrative systems are expected to yield significant cost savings.
• Market resilience: In a legal market marked by uncertainty, firms with diversified practices tend to weather downturns better than single-focus boutiques.
• Talent and recruitment: A firm with both depth and breadth across practices becomes more attractive to laterals and new graduates seeking long-term career growth.

Industry analysts say this deal could be a sign of more to come. “We’re seeing a clear acceleration in strategic mergers,” noted one legal consultant. “Clients want firms that can handle everything — from cross-border deals to complex litigation — without outsourcing. That’s what’s driving consolidation at the top of the market.”

Opportunities — and Integration Challenges

While the merger has been widely praised as a smart strategic fit, experts caution that integrating two legacy firms is no easy feat. Merging operations, compensation systems, and firm cultures can be complex and time-consuming.

Common challenges in law firm mergers include:

• Cultural alignment: Each firm brings its own management style, compensation philosophy, and client-service ethos. Aligning those values is often the hardest part of integration.
• Client conflicts: Overlapping client lists can create conflicts of interest, requiring firms to offload certain clients or matters to comply with ethics rules.
• Retention of key talent: Ensuring that star partners, practice leaders, and rainmakers remain engaged during the transition will be crucial to sustaining momentum.
• Brand identity: Choosing a name, logo, and marketing strategy that honor both legacies while presenting a unified new image is a delicate process.

Still, leadership on both sides has expressed confidence in their integration plan, which includes a shared management committee, joint practice group leadership, and coordinated client transition teams.

“The key is not just combining names,” one senior partner said. “It’s about building a truly unified culture that leverages both sides’ strengths.”

A Broader Industry Shift

This merger is part of a broader evolution in BigLaw strategy. In recent years, firms across the Am Law 100 have been seeking scale and synergy — not just for prestige, but for survival. Clients, especially large corporations and private equity firms, increasingly demand global reach, lower costs, and consistent quality across practice areas.

Moreover, as technology transforms the way legal services are delivered, firms are recognizing that investment in innovation and infrastructure is more feasible when costs are shared at scale. The newly merged firm is reportedly planning to expand its AI-driven research and e-discovery tools, positioning itself as a tech-forward player in an industry that has historically lagged in digital transformation.

Implications for Clients, Competitors, and Careers

For clients, the benefits are immediate. The combined firm offers a one-stop shop for both transactional and contentious needs, reducing the need to engage multiple outside counsel. For competitors, the move raises the stakes — prompting speculation that other midsize or specialized firms may follow suit in the coming year.

For legal professionals, the merger could signal new career opportunities. The merged entity’s broader platform will likely attract attorneys seeking cross-practice collaboration, diverse case exposure, and national mobility.

Looking Ahead

As the 2026 launch approaches, the legal community will be watching closely to see whether this merger becomes a model for future BigLaw combinations. If successfully executed, it could set a new standard for full-service integration and client delivery at the top tier of the legal market.

In a profession where reputation, relationships, and results define success, this latest merger underscores a simple truth: in BigLaw, strength in numbers still matters.

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The post Corporate and Litigation Powerhouses Unite in BigLaw’s Latest Landmark Merger first appeared on JDJournal Blog.

Major Biglaw Layoffs Hit BCLP: 8% of Support Roles Slashed

In a significant development for the legal industry, Bryan Cave Leighton Paisner (BCLP) — ranked No. 65 on the Am Law 100 with a gross revenue of $869.6 million in 2024 — has announced plans to reduce 8% of its business support staff across both U.S. and international offices. The layoffs will affect roles in finance, pricing, knowledge management, and reception.

The decision comes as part of a broader business modernization initiative aimed at streamlining operations and realigning the firm’s resources for future growth.

Why Is BCLP Cutting Staff?

According to a report from American Lawyer, BCLP leadership disclosed that the firm spends approximately 2% more on business support staff than peer firms. During a recent partners’ call, management cited this cost discrepancy as a key factor driving the layoffs.

BCLP released an official statement explaining the move:

“We are undergoing a broader business modernization program, which involves a series of strategic initiatives to streamline operations and appropriately reshape teams as we continue to support BCLP’s growth and client focus. The proposed changes will impact approximately 8% of the firm’s global business services population. We are offering enhanced redundancy packages and additional support for affected colleagues.”

Leadership’s Response

Steve Baumer, CEO of BCLP, acknowledged the difficulty of the decision:

“We recognize the impact changes like these can have on our people, and we do not take these decisions lightly. Our people remain at the heart of BCLP, and we are fully committed to supporting affected colleagues with care, fairness, and transparency throughout.”

Broader Industry Context

BCLP’s move reflects a growing trend among major law firms seeking to optimize costs amid changing client demands and market pressures. Despite high revenues, firms are facing:

• Rising operational costs
• Increased competition
• Pressure to maintain profitability while embracing technology and lean staffing models

BCLP’s restructuring echoes similar efforts at other Am Law 100 firms that have either reduced staff, deferred hires, or restructured business operations in recent months.

Support for Affected Staff

The firm has committed to providing:

• Enhanced redundancy packages
• Career transition support
• Fair and transparent communication throughout the process

What’s Next for BCLP?

While BCLP’s layoffs focus solely on business support staff at this stage, legal industry analysts will be watching closely to see whether further cost-cutting measures — or potential attorney layoffs — follow in the second half of 2025.

Conclusion

The legal services market continues to evolve rapidly, with firms like BCLP making difficult staffing decisions to adapt. As the industry shifts, support staff reductions may become more common, raising important questions about the future structure of major law firms.

The post Bryan Cave Leighton Paisner to Cut 8% of Support Staff Amid Global Restructuring first appeared on JDJournal Blog.

Biglaw firms continue to reward their associates generously after a financially successful 2023, with many announcing matches to Milbank’s year-end and special bonuses. One firm, however, has once again set itself apart—Latham & Watkins. Known for its exceptional compensation practices, Latham has delivered bonuses that not only meet but surpass market expectations.

Latham & Watkins: A Powerhouse in Biglaw Compensation

Latham & Watkins, a legal giant that ranked No. 2 on the Am Law 100 with an astounding $5,688,226,000 in gross revenue for 2023, has maintained its tradition of announcing bonuses in January. While associates may have had to wait for confirmation, their patience has been more than rewarded.

Unlike many other firms that simply match market rates, Latham often exceeds them. This year, their bonuses reflect a level of generosity that outpaces competitors, making the wait worthwhile for associates who have put in the hours.

Understanding Latham’s Bonus Structure

Bonuses at Latham & Watkins come with a standard billable requirement of 1,900 hours. However, the firm has created additional incentives for high billers, offering significantly larger payouts for those exceeding this threshold. This structure not only ensures fair compensation but also encourages higher productivity among associates.

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The internal chart circulated among firm members highlights the breakdown of these bonuses, revealing just how lucrative Latham’s compensation packages are:

2024 Latham Bonus Breakdown

(Note: These figures are illustrative and based on reported trends.)

How Do These Bonuses Compare to Last Year?

It’s worth noting that last year’s top bonuses at Latham were slightly lower than this year’s figures. For the 2023 bonus cycle, second-year associates received top bonuses of $28,000, while seventh-years capped out at $172,500. The increase in this year’s bonuses suggests a robust financial performance and a willingness to share the rewards with hardworking attorneys.

The Competitive Landscape: How Latham Stands Out

Many firms in the Am Law 100 matched Milbank’s market bonuses, but Latham has historically outperformed market expectations by offering mid and top-tier bonuses that far exceed the norm. This year is no exception, solidifying its position as one of the most desirable places for ambitious attorneys.

Why Does Latham Pay More?

Several factors contribute to Latham’s above-market compensation strategy:

1. Revenue Growth: With nearly $5.7 billion in revenue, the firm has the financial strength to provide industry-leading bonuses.
2. Retention Strategy: Higher compensation helps the firm retain top legal talent in a highly competitive market.
3. Productivity Expectation: The firm encourages a strong work ethic, with top bonuses awarded to those exceeding billable hour requirements.
4. Brand Prestige: Being known as one of the best-paying firms strengthens Latham’s reputation as an elite legal powerhouse.

Want to know if you’re earning what you deserve? Find out with LawCrossing’s salary surveys.

What This Means for Biglaw Associates

If you’re an associate at Latham, this year’s bonus announcement means a significant payout, with deposits expected on January 31, 2025. It also signals continued prosperity in the legal industry, at least for the firms that had an exceptionally profitable year.

How to Maximize Your Bonus Potential at Latham

To qualify for the highest tier of bonuses, associates should consider:

• Exceeding the 1,900-hour billable minimum to access higher payout brackets.
• Taking on leadership roles in high-revenue-generating cases.
• Building strong relationships with partners to secure better case assignments.
• Exploring mentorship opportunities to increase their value within the firm.

Future Trends: What’s Next for Biglaw Bonuses?

Looking ahead, Biglaw firms may need to adapt to changing economic conditions. Here are a few predictions for the future of legal compensation:

• AI and Automation’s Impact: As legal tech advances, firms may adjust compensation structures based on efficiency gains.
• Hybrid Work Considerations: With remote work becoming a permanent fixture, will firms shift compensation models based on in-office vs. remote productivity?
• Market Volatility Adjustments: If economic conditions shift, some firms may tighten their bonus policies, while elite firms like Latham may continue to lead the pack.

Frequently Asked Questions (FAQ)

1. What is the minimum billable requirement for Latham’s bonuses?

Latham requires a minimum of 1,900 billable hours to qualify for year-end bonuses.

2. How do Latham’s bonuses compare to other Biglaw firms?

Latham generally exceeds market standards, offering mid-tier and top bonuses that surpass the norm.

3. When will associates receive their 2024 bonuses?

Bonus-eligible associates at Latham will receive payouts on January 31, 2025.

4. Does Latham offer additional bonuses beyond year-end payouts?

Yes, associates who bill beyond the 1,900-hour threshold may qualify for even higher payouts.

5. Are these bonus amounts fixed, or can they change?

While these figures are based on past trends, final bonus payouts depend on individual billable hours and firm-wide financial performance.

Conclusion

Latham & Watkins has once again demonstrated why it remains a powerhouse in Biglaw, offering competitive salaries and market-leading bonuses. For associates who’ve put in the hours, this year’s payouts are a well-earned reward. As the legal industry evolves, Latham’s compensation strategy sets a high bar, ensuring it remains an attractive destination for top legal talent.

Congratulations to all Latham associates on their well-deserved bonuses!

The post Latham & Watkins’ 2024 Bonuses: A Record-Breaking Year for Biglaw Associates first appeared on JDJournal Blog.

Biglaw Firms Maintain Competitive Bonuses

In the competitive world of Biglaw, firms often follow prevailing market trends when it comes to year-end and special bonuses. These bonuses, initially set by industry leaders such as Milbank in November, serve as benchmarks across the sector. However, some firms aim to differentiate themselves by offering exceptional financial rewards to associates who exceed expectations in their billable hours.

Dechert: A Top Performer on the Am Law 100

Dechert LLP, which reported an impressive $1.29 billion in gross revenue in 2023 and ranked No. 39 on the Am Law 100, has established itself as a leader in rewarding hard-working associates. In November, the firm announced that it would match Milbank’s market rates while continuing its tradition of providing “extraordinary” bonuses for associates hitting ambitious billable hour targets.

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Associates who achieved 2,200 and 2,400 billable hours in 2024 were rewarded with bonuses of 30% and 40% above the market standard, respectively. But Dechert didn’t stop there.

Enhanced Bonuses Announced on Christmas Eve

On Christmas Eve, Dechert’s co-chairs, Mark E. Thierfelder and David W. Forti, sent a firmwide memo expressing gratitude for the team’s dedication throughout 2024. Alongside their thanks, the memo introduced an additional layer of bonuses for those who demonstrated exceptional commitment and performance.

Here’s an excerpt from their announcement:

“This year, in addition to our usual 30% and 40% above-market bonuses, we have enhanced bonuses up to 130% above the market to thank those who went well beyond our normal hours grid. For associates in EMEA who met the U.S. bonus targets, their bonus amounts will be commensurate with the U.S. scale. This is not setting a new hours expectation, but we recognize the incredible personal sacrifices that some of our lawyers have made to deliver truly outstanding client service.”

Recognition for Outstanding Effort

These “enhanced” bonuses, reaching up to 130% above the market standard, underscore Dechert’s commitment to acknowledging the extraordinary efforts of its associates. While the firm emphasized that these bonuses do not establish new expectations for billable hours, they reflect an appreciation for the personal sacrifices made by top-performing lawyers to deliver exceptional client service.

Payment Timeline

The enhanced bonuses are slated to be distributed by the end of January, ensuring that associates are swiftly rewarded for their hard work. This move positions Dechert as not just a follower of market trends but as a firm willing to go above and beyond for its employees.

Want to know if you’re earning what you deserve? Find out with LawCrossing’s salary surveys.

Industry Implications

Dechert’s decision to provide such significant additional bonuses may influence other Biglaw firms to rethink their compensation strategies. By rewarding extraordinary effort with unmatched financial incentives, the firm has set a high standard for recognizing and valuing its workforce.

Congratulations to everyone at Dechert for their well-deserved bonuses and for setting a remarkable example in the industry.

Don’t be a silent ninja! Let us know your thoughts in the comment section below.

The post Dechert Goes Above and Beyond with Enhanced Associate Bonuses first appeared on JDJournal Blog.

As another prosperous year wraps up for the legal industry, prominent law firms continue to share their financial success with associates through lucrative year-end and special bonuses. Holland & Knight is the latest firm to join the bonus wave, offering impressive payouts to its associates following a record-breaking year in revenue.

A Record Year for Holland & Knight

Holland & Knight, ranked No. 25 on the Am Law 100, generated a remarkable $1.85 billion in gross revenue for 2023. This strong financial performance has allowed the firm to distribute bonuses that match the generous benchmark set by Milbank, a move eagerly welcomed by its associates.

On December 27, just days after Christmas, Holland & Knight announced its bonus structure for the year. While the news came as a belated holiday gift, it left associates across the firm energized and optimistic as they head into 2024.

Want to know if you’re earning what you deserve? Find out with LawCrossing’s salary surveys.

Bonus Tiers Reflect Regional Dynamics

The firm’s bonus distribution is divided into two distinct groups based on office location:

• Group 1: Associates in regional offices, including Birmingham, Chattanooga, Jacksonville, Nashville, Orlando, Portland, Richmond, Tallahassee, and Tampa.
• Group 2: Associates in major market offices, such as Atlanta, Austin, Boston, Century City, Charlotte, Chicago, Dallas, Denver, Fort Lauderdale, Houston, Los Angeles, Miami, New York, Newport Beach, Philadelphia, San Francisco, Stamford, Tysons, Washington, D.C., and West Palm Beach.

This tiered system takes into account the cost of living and competitive dynamics across different regions, ensuring that associates receive fair and market-aligned compensation.

Additional Rewards for Exceptional Performance

Beyond the Milbank match, Holland & Knight has introduced a merit-based component to its bonus structure. Associates who demonstrate “exceptional” performance—evaluated through metrics such as billable hours and client originations—will be eligible for additional bonus amounts.

The firm also recognizes the efforts of associates who may not have reached the standard target of 2,000 billable hours. Partial bonuses are available for those who came close, providing an inclusive approach to rewarding hard work and dedication.

Bonuses Set for Early 2025

All bonuses, including merit-based and partial payouts, will be distributed during the first quarter of 2025. The awards will follow the firm’s annual performance evaluations, ensuring that associates receive recognition tailored to their contributions.

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A Strong Start to the New Year

Holland & Knight’s announcement has generated excitement and a sense of appreciation among its associates. By combining financial rewards with performance recognition, the firm continues to solidify its reputation as a leading player in the legal industry and a top choice for legal professionals seeking career growth and competitive compensation.

The post Holland & Knight Rewards Associates with Big Bonuses for a Strong Financial Year first appeared on JDJournal Blog.